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{"id":289626,"date":"2024-11-13T08:18:07","date_gmt":"2024-11-13T08:18:07","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=124818"},"modified":"2024-11-13T08:18:07","modified_gmt":"2024-11-13T08:18:07","slug":"nauru-launches-innovative-citizenship-program-at-cop-29-linking-investment-to-climate-action","status":"publish","type":"post","link":"https:\/\/fujairahupdates.com\/nauru-launches-innovative-citizenship-program-at-cop-29-linking-investment-to-climate-action\/","title":{"rendered":"Nauru Launches Innovative Citizenship Program at COP\u00a029, Linking Investment to Climate Action"},"content":{"rendered":"

BAKU, Azerbaijan, Nov. 13, 2024 (GLOBE NEWSWIRE) — The Government of the Republic of Nauru unveiled its groundbreaking\u00a0Nauru Economic and Climate Resilience Citizenship Program<\/a>\u00a0at the\u00a02024 United Nations Climate Change Conference (COP\u00a029)<\/a>\u00a0in Baku today, directly addressing the key conference themes of climate finance and adaptation. In his address to COP\u00a029 delegates,\u00a0Hon. Asterio Appi<\/a>, Nauru\u2019s Minister for Climate Change and National Resilience, presented the innovative financing initiative as an opportunity for conscientious investors to acquire an additional citizenship while contributing to climate adaptation and sustainable development projects in the South Pacific.<\/p>\n

Minister Appi highlighted the program\u2019s broader impact: \u201cNauru, like many South Pacific nations, plays an outsized role in protecting globally significant biodiversity. Our ecosystems support more rare, endangered, and threatened species than those anywhere else on Earth. Yet we stand on the frontlines of climate change, facing rising sea levels, intensifying storm surges, and accelerating biodiversity loss. The consequences of global warming are rendering Pacific Island states increasingly uninhabitable. By choosing Nauru\u2019s citizenship program, investors aren\u2019t merely securing their own future \u2014 they\u2019re investing in the future of our planet.\u201d<\/p>\n

The UN has repeatedly stressed that access to finance, and in particular climate finance, is a\u00a0critical enabler<\/a>\u00a0to help Small Island Developing States (SIDS) achieve their Sustainable Development Goals. As it points out,\u00a0SIDS are disproportionately and increasingly affected by the impacts of climate change<\/a>\u00a0and urgently require access to external financial support to build resilience in the social, economic, and natural systems on which they, and the rest of the world, depend. However, the current climate and development finance architecture is\u00a0exceedingly complex and ill-equipped to operate efficiently<\/a>, fairly, and at the speed and scale needed to meet SIDS\u2019s needs.<\/p>\n

Secure global mobility and contribute to a sustainable future<\/strong><\/p>\n

Speaking at the program\u2019s launch event in Baku, newly appointed Director of Compliance of the Nauru Economic and Climate Resilience Citizenship Program Office, Isa Seow, pointed out that as the world\u2019s smallest independent republic and third-smallest country, \u201cNauru is a testament to resilience and innovation, pioneering a unique approach to citizenship that combines economic growth with environmental stewardship.\u201d<\/p>\n

Seow explained that the program offers a streamlined path to citizenship, with processing times of just three to four months. Investors can secure Nauruan citizenship through a contribution to the national Treasury Fund, starting at USD\u00a0105,000 for a single applicant. This investment unlocks benefits for international investors including visa-free access to 89 destinations, unrestricted dual citizenship, and the ability to extend citizenship to family members.<\/p>\n

He underscored the program\u2019s commitment to integrity: \u201cWe\u2019ve implemented rigorous due diligence processes and robust governance structures to ensure that only individuals of the highest caliber participate in shaping Nauru\u2019s future. This program isn\u2019t just about acquiring another passport; it\u2019s about joining a community dedicated to pioneering solutions for global challenges.\u201d<\/p>\n

Sovereign equity instead of sovereign debt<\/strong><\/p>\n

Nauru\u2019s government has mandated leading international investment migration advisory firm\u00a0Henley & Partners<\/a>\u00a0to design, set up, and run the Nauru Economic and Climate Resilience Citizenship Program. The firm\u2019s Government Advisory practice has assisted the governments of over 20 jurisdictions and countries across Africa, Asia, the Caribbean, Europe, the Middle East, North America, and Oceania in designing, setting up, operating, and promoting investment-related residence and citizenship programs and has raised more than USD 15 billion in foreign direct investment.<\/p>\n

His Excellency\u00a0David Adeang, President of the Republic of Nauru<\/a>, says, \u201cInvestment migration has emerged as a powerful mechanism for mitigating sustainability risks and enhancing climate resilience. Nauru\u2019s program sets a new standard in this realm, channeling investments directly into projects that safeguard the nation\u2019s future and contribute to global environmental preservation. Nauru\u2019s innovative approach offers a tangible example of how nations can leverage private investment to address pressing environmental challenges.\u201d<\/p>\n

Dr. Juerg Steffen<\/a>, CEO of Henley & Partners, says, \u201cWhat sets residence and citizenship by investment programs apart from debt-driven financing approaches is that they enhance the sovereign equity of the nations that host them. They do not require compromising or sacrificing one strategic objective to achieve another. Investment migration is a true win\u2013win, long-term, sustainable solution for all stakeholders, whether they are investors or nation states and their citizens. More and more governments are seeing the benefits of residence and citizenship programs as a mechanism to mitigate sustainability risks by financing development initiatives.\u201d<\/p>\n

Notes to Editors:<\/strong><\/p>\n

About the Nauru Economic and Climate Resilience Citizenship Program<\/strong><\/p>\n

The Nauru Economic and Climate Resilience Citizenship Program offers a straightforward pathway to citizenship through a direct contribution to the Treasury Fund of Nauru.<\/p>\n

Main applicant requirements:<\/p>\n